Logo of Bupa Arabia for Cooperative Insurance Co.
Bupa Arabia for Cooperative Insurance Co. concluded, on Dec. 29, the sale of fractional shares resulting from the company’s capital hike, the company said in a statement to Tadawul today, Jan. 11.
Proceeds from the sale of fractional shares will be deposited in the eligible shareholders’ bank accounts, on Jan. 12.
The insurer sold 16,800 shares at an average price of SAR 145.95 each, totaling about SAR 2.5 million, as shown in the table below:
|
Details |
|
|
Sale of Fractional Shares |
Dec. 29, 2022 |
|
Sale Proceeds |
SAR 2.48 mln |
|
Shares Sold |
16,977 |
|
Average Price Per Share |
SAR 148.95 |
|
Deposite Date |
Jan. 12, 2023 |
Saudi British Bank (SABB) will deposit the proceeds in bank accounts linked to shareholders' investment portfolios, the statement added.
According to data compiled by Argaam, Bupa Arabia’s shareholders approved in December the board’s recommendation of increasing capital to SAR 1.5 billion from SAR 1.2 billion through a 25% bonus share distribution.
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